Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Increased by Ballast Inc.

Ballast Inc. grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,447 shares of the semiconductor manufacturer’s stock after purchasing an additional 895 shares during the period. Ballast Inc.’s holdings in Micron Technology were worth $1,048,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ProVise Management Group LLC acquired a new stake in shares of Micron Technology in the 2nd quarter worth about $236,000. Intech Investment Management LLC increased its stake in shares of Micron Technology by 111.3% in the second quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock valued at $12,236,000 after purchasing an additional 49,001 shares during the period. Ieq Capital LLC raised its holdings in shares of Micron Technology by 10.8% during the second quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock valued at $7,368,000 after buying an additional 5,473 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Micron Technology by 17.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock worth $547,000 after buying an additional 618 shares during the period. Finally, AE Wealth Management LLC grew its holdings in Micron Technology by 143.0% in the 2nd quarter. AE Wealth Management LLC now owns 12,636 shares of the semiconductor manufacturer’s stock worth $1,662,000 after buying an additional 7,435 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $105.75 on Friday. The firm has a market cap of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The business’s 50 day moving average price is $97.87 and its two-hundred day moving average price is $102.48.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The company’s quarterly revenue was up 84.3% on a year-over-year basis. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of several recent analyst reports. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. KeyCorp lowered their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. China Renaissance assumed coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Finally, The Goldman Sachs Group lowered their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.